HDFC bank sacks 4 employees, including brach manager over unauthorised exchange of notes

Services of the employees were terminated immediately after it was discovered they were allegedly favouring a person known to one of them

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Four employees, including a branch manager, of HDFC bank, were sacked in Chandigarh for allegedly indulging in unauthorised exchange of demonetised currency notes, the bank said in a statement on Saturday.

"Services of the employees, posted with the Sector-15 branch here, were terminated immediately after it was discovered they were allegedly favouring a person known to one of them by exchanging his demonetised currency notes with new notes," it said.

The bank said "an isolated" incident of "unauthorised" currency exchange involving the employees came to its notice after its systems detected an inconsistency.

In another incident, a bank manager and a cashier of a public sector bank were arrested by the Punjab police yesterday in Bathinda for allegedly charging money to "replace" demonetised currency notes.